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Receiving Cryptocurrency & Mining Proceeds

Cobo Support

June 02, 2020 08:44

Updated

Both Cobo Vault and the Cobo Vault mobile app support displaying receiving addresses. If you wish to minimize use of your hardware wallet, you can have your receiving addresses displayed on the mobile app.

Because token addresses are the same as main-chain addresses, you can use the main-chain address to receive tokens of the same cryptocurrency. For example, you can use ETH addresses to receive USDT-ERC20. Add Tokens on the mobile app to help with management.

Cobo Vault Mobile App

1. Go to the corresponding wallet and tap [Cryptocurrency].

2. Tap [Receive], then [Address] to change the receiving address.

3. There are 3 ways to share address information to a sender: (Please use addresses displayed on the Cobo Vault device to verify receiving addresses, or scan the QR code format of the address displayed on the Cobo Vault device when receiving.)

a. Hold down on the address to copy it to the clipboard.

b. Show the address’s QR code to the sender.

Receive Mining Proceeds

1. If you use the Cobo Vault hardware wallet’s addresses to receive BTC, LTC, DASH, or BCH mining proceeds, you may receive a large amount of small transactions. Transaction data and transaction fees will increase with the number of UTXOs sent at the same time.

2. We suggest you use the HD wallet to generate mining proceeds receiving addresses, and regularly transfer to your hardware wallet. For example, if you receive 100 transactions of 0.0001 BTC, we recommend you send them in 1 transaction of 0.1 BTC to your hardware wallet address.